Although our exploration team has over 100 years of combined experience throughout the lower forty-eight, our activities revolve around the Texas Panhandle, Western Oklahoma and Eastern Oklahoma. Primary targets include the Cleveland, Granite Wash and Woodford horizons. The company's land position provides a significant inventory of prospects and locations for future development.

In the 24-year history of the company, we have drilled over 550 wells with a ~90% success rate. Over 65% of those drilled have been horizontal wells. This includes over 150 wells drilled with ExxonMobil and 40 with BP. Jones Energy's horizontal drilling activity is unprecedented for a company of its size.

In June 2007, the company sold its legacy Hansford County, Texas area production and acreage to Laredo Petroleum Company located in Tulsa, Oklahoma. The sale included 131 producing wells with associated production. Also included in the sale were all of the potential PUDs and dedicated acreage of approximately 100,000 gross acres.

In July 2008, the company, along with our partner EnerVest, Ltd., completed a sale of our Shattuck Field Assets to Noble Energy, Inc. for $291 million. Jones Energy and EnerVest purchased this Ellis County, Oklahoma property in 2006. By utilizing our expertise in horizontal drilling and Packers Plus completions we were able to increase gross production from 9,915 mcfe/d to 49,820 mcfe/d prior to closing.

In December 2009, the company, along with its new equity partner Metalmark Capital Partners, acquired Crusader Energy Group for $240.5 million plus other consideration. The acquisition included the purchase of over 630 producing wells.

In September 2010, the company purchased additional properties in the Anadarko Basin for $33 million.

In April 2011, the company acquired producing properties and entered into a joint venture with Southridge Energy and Pablo Energy in the Arkoma Basin Woodford play.

In December 2012, the company purchased additional oil properties and acreage from Chalker Energy in the Texas panhandle.